Foxconn’s India business tops $10 billion, $1.4 billion invested to date

iPhone contract manufacturer Foxconn’s business in India has grown to more than $10 billion by 2024, its chairman Young Liu said here. Foxconn has invested USD 1.4 billion in India to date, according to the company.

“As of last year, we have done business worth more than $10 billion. We will do much more next year,” Liu told PTI.

He spoke on the sidelines of the opening of the company, which is exclusively for women. residential complex near the Foxconn plant here on Saturday.

Padma Bhushan awardee Liu said that during his current visit to the country he met chief ministers of several states and feels that India is on the rise.

“After visiting so many states in India, I felt that the country is on the rise. Foxconn wants to be a part of that. We will grow along with India’s growth,” Liu said.

This is Liu’s first visit to India after he was awarded the Padma Bhushan, the third highest civilian award, on the eve of the 75th Republic Day this year. Liu began his roughly week-long visit to India with a meeting with Prime Minister Narendra Modi on Wednesday. He discussed Foxconn’s investments in Tamil NaduKarnataka and Telangana with the Prime Minister. Liu also met the Chief Ministers and State Cabinet Ministers of these three states.

The company’s women-only residential complex was inaugurated by Tamil Nadu Chief Minister MK Stalin.

During the opening, Liu said the company hires employees regardless of gender But in India women, especially married womenhave contributed greatly to their efforts.

Foxconn’s chairman said there is an upward trend in all types of hiring by Taiwan’s leading electronics manufacturer in India.

“Foxconn hires regardless of gender, but women make up a large portion of our workforce here. I want to emphasize that married women contribute greatly to the efforts we are making here,” Liu said.

The Taiwanese company recently faced accusations of discrimination in hiring married women. A report claimed that the electronics manufacturing giant was opposed to hiring married women in India.

Foxconn denied the report, saying 25 percent of its new hires were married women.

The company said at the time that the Foxconn factory had about 70 percent women and 30 percent men and that the Tamil Nadu plant was the factory with the highest female employment in the country.

Foxconn currently has around 48,000 employees in India.

“Opportunities for women in India go hand in hand with health and safety at work. Having a sustainable living environment helps them succeed,” Liu said.

The complex, built by the Tamil Nadu State Industries Promotion Corporation (SIPCOT), will house over 18,000 female employees who will share rooms.

The project, spread over 20 acres, has been constructed at a total cost of around Rs 706 crore.

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